By Kosaku Narioka
The third quarter profit of SBI Life Insurance Co. it fell 16% from a year earlier, missing analysts’ expectations.
Profit for the quarter ended December 31 fell to 3.04 billion rupees ($37.5 million) from INR3.64 billion a year earlier, the Indian insurer said on Saturday. It missed the estimate of INR3.72 billion obtained from a poll of analysts by FactSet.
Third-quarter net income increased 6.4% from a year earlier to INR191.71 billion, while investment income more than tripled to INR74.43 billion from the INR24.24 billion.
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(Conclusion) Dow Jones Newswires
January 22, 2023 10:57 PM ET (03:57 GMT)
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